Registry Permissions Preventing Update

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I can not successfully install KB925454 on my home computer (Windows XP

Media Center 2004). I have disabled my Spyware
(Webroot) and Virus (McAfee SecurityCenter).

I continue to get:

KB92545 Setup could not backup registry key
HKLM\Software\Microsoft\Internet Explorer\ActiveX
Compatibility\Restriction Policies to file... Access is denied.

This is my home machine, I am admin. I verified permissions in
HKLM\Software\Microsoft\Internet Explorer\ActiveX Compatibility. But
if I try to access any of the registry keys below that I always get a
"Error while opening key" error. This happens when simply browsing
using regedt32. So I have a permissions issue even though I have
rights to the parent.

As admin I have permissions problems with my own registry?
(I have also posted this to public.microsoft.windowsupdate - am still
looking for help)
Thanks

.

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